The tool comes after the Reddit forum WallStreetBets drove a meteoric rise in the GameStop stock price in 2020, forcing halts on trading and causing hedge funds to lose $8bn
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Dragons' Den star Steven Bartlett has launched a 'world-first' tool to discover what is influencing investors.
Flight Story, the marketing consultancy co-founded by the entrepreneur and former Social Chain managing director Oliver Yonchev, has unveiled Flight Deck to look at the online factors that mean the most to investors and impact the prices of stocks and crypto currencies.
Flight Deck's aim is to 'demystify the relationship' between online conversations and market activity so companies can make better-informed decisions.
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The tool comes after the Reddit forum WallStreetBets drove a meteoric rise in the GameStop stock price in 2020, forcing halts on trading and causing hedge funds to lose $8bn.
Flight Deck will feed tens of millions of data points into an algorithm to work out their true impact into 'clear insights'.
Mr Bartlett said: "Flight Story is aiming to modernise investor relations and develop a unique communication solution.
"The link between online activity and capital markets has never been closer and being able to quantify our services with Flight Deck is going to be revolutionary to public companies."
Flight Story was launched in December 2021 and said its revenue was more than $10m during its first year of trading.
Mr Yonchev, who serves as its CEO, added: "Social media is well and truly driving the market. Over the past year, we’ve seen how a single Tweet can both plummet or skyrocket a company's stock.
"However, social media conversation moves so rapidly it can be challenging for brands to stay at the forefront. This is where Flight Deck comes in.
"We’ve worked tirelessly to build a world-class platform that picks up on these high-impact incremental mentions so that brands are better positioned to create compelling content, spark investor interest and make better decisions."
Mr Bartlett recently hit the headlines after Social Chain, the social media agency that helped him make his fortune, was sold last month for £7.7m.
Earlier this year he also launched a $100m fund to help back the next generation of businesses aiming for a $1bn valuation.
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